Yen Surges In Early Trading, Takes Out USDJPY 102 Stops

Tyler Durden's picture

"Easy come, easy go, when the market is GETCO"

That should be the motto of every momentum trader who decided on Friday to buy the USDJPY just because it was 2pm, and then, when 3:30 pm came around, and the momentum chasing algos woke up, then pat themselves on the back for a "job well done." Because in early trading, before even the Japan open, the USDJPY, following on comments by Japan's econ minister Amari, as noted here earlier, that the days of easy JPY devaluation are over, collapsed by over 120 pips from a closing print of 103.20, and tumbled in a span of second to just under 102, taking out all 102 stops, before the GETCO plunge protection algo team took over and sent the pair back up, however briefly.

Of course, Japan has yet to wake up and read the comments from Amari. At that point should the Mrs Watanabe retreat bugle sound, all bets are off, and just as the momentum was so instrumental in sending the USDJPY over 103, so it may push the pair in double digit territory in almost no time. As for JGB vol and the dreaded VaR storm, well: good luck to Japanese banks which may be nursing up to JPY10 trillion in capital losses soon.

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BeetleBailey's picture

Silver...I want to shoot every cocksucking, shit eating banker on the planet

Yen Cross's picture

    I closed 1/2 of my yen trade Friday.(it's documented)


BigInJapan's picture

Good work!

No need for proof, yo.
I believe you.

DeadFred's picture

Looks like support at 100. You going to get back in then?

malikai's picture

Looks like a long way down on gbpaud.

Aurora Ex Machina's picture

The last true trader here, with the courage to face the fear and post their results.





OMG, Silver is down $1.71 near open?!?!  UGH.......  :(

ekm's picture

Now that the world governments are buying all bonds in the seas, on the earth and UP in the sky, they only VISIBLE check on money printing have become ENERGY/CRUDE OIL.

MFLTucson's picture

This is what happens when you have a handful of Jewsih bankers rigging the game.  The whole sytemm is upside down.  Gold and Silver paper down and Google stock up in the middle of a depression!  What a disgusting mess.

JustObserving's picture

Silver down to $20.28.  That is like an eight standard deviation event.  Can only happen in 3.2 billion years of trading by chance.

Wait a week - silver will be cheaper than copper.

oddjob's picture

So we should expect a similar move again next Sunday night.

Agstacker's picture

Good Lord I'm buying tomorrow...

Stares straight ahead's picture

Absolutely! And watch gold follow. Up to my teeth in gold but have been waiting patiently to buy more. Wait til mid June.

Lore's picture

Yah. Elderly traders are going to look back on these days with nostalgia.

fonzannoon's picture

This is going to be an interesting week.

Yen Cross's picture

  The 23somethings are running like rats on a 'water heater'. I love this shit! Junk away ;D

BigInJapan's picture

To za rifebotozu!

ISEEIT's picture

Head fake?

The Yen is?

MFLTucson's picture

When does this fucking fraud end?

MFLTucson's picture

300% Debt to GDP and their currency is up?  When does this insanity end.  

Sutton's picture

So I guess ben buys dollar/yen?

ISEEIT's picture

Whew..Just finished counting all my 'junk' silver again.

Every quarter and dime still there. I don't care all that much what they offer me in pieces of TP for my babies. I can wipe my ass with lot's of different things. Hell, I don't need to wipe it at all but doing so makes me feel better.

I'll keep the coins for later, when I need 'em.

Youri Carma's picture

Japs always held a healthy way of suicide. It's all in the culture you know.